Foreclosure and distressed property topics
- Thread starter graphrix_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
TangerineSpeedo_IHB
New member
The best part, IMHO, is it doesn't take much to turn that low FICO tranche into a pretty decent performing portfolio with minimal effort. Look at the following chart with lower FICO ranges, but with skin in the game and income verification:
[sorry I can't figure out how to paste from CR, bu tthe default rates for corresponding period are approximately 2/3 less]
Also, REDC has home listings for upcoming SoCal auctions here:
http://www.ushomeauction.com/auction_details.php?auctionID=H-009
Of note are the dropping reserves. Last time I checked a REDC list, the reserves were much higher as a % of last sale price.
[sorry I can't figure out how to paste from CR, bu tthe default rates for corresponding period are approximately 2/3 less]
Also, REDC has home listings for upcoming SoCal auctions here:
Of note are the dropping reserves. Last time I checked a REDC list, the reserves were much higher as a % of last sale price.
Trooper_IHB
New member
I happened to pick up on this little ditty on Padilla's blog... LOL ! Hey, Great ! I'm a homeowner too ! Neener.
Great Says:
>October 10th, 2007 at 8:23 am
It’s nice to see a blog with useful information as opposed to the hate spewed on Irvine Housing Blog. That site is run by and published for..bitter renters.
Great Says:
>October 10th, 2007 at 8:23 am
It’s nice to see a blog with useful information as opposed to the hate spewed on Irvine Housing Blog. That site is run by and published for..bitter renters.
Cal's Caddy_IHB
New member
$635/ sq. foot in the Ranch.? Listed for $200K more than it was bought in 2004? Git yer Kool-Aid here!
http://www.redfin.com/stingray/do/printable-listing?listing-id=828553
http://www.redfin.com/stingray/do/printable-listing?listing-id=828553
ns2524_IHB
New member
68 OAK TREE LANE, Irvine, CA 92612**
Last Sale: 09/01/06
Sales Price: $830,000
List Price: $674,900
Bedrooms: 3
Full Baths: 2
Partial Baths: 1
Square Feet: 2,194
Lot Size: 3,000 Sq. Ft.
Year Built: 1969
Listing Date: 10/11/07
On Market: 3 days
Type: SFR
Status: ACTIVE
MLS #: U7004382
Last Sale: 09/01/06
Sales Price: $830,000
List Price: $674,900
Bedrooms: 3
Full Baths: 2
Partial Baths: 1
Square Feet: 2,194
Lot Size: 3,000 Sq. Ft.
Year Built: 1969
Listing Date: 10/11/07
On Market: 3 days
Type: SFR
Status: ACTIVE
MLS #: U7004382
graphrix_IHB
New member
September sales and foreclosure numbers are out today.
Total sales there was 1.3 sales for 1 NOD.
For resale homes there was 1.1 sales for 1 NOD.
More number crunching to come.
Total sales there was 1.3 sales for 1 NOD.
For resale homes there was 1.1 sales for 1 NOD.
More number crunching to come.
No_Such_Reality_IHB
New member
Minor nit on the Foreclosure numbers. Nominal value is down 5% from August. Per government business day the number is up 14.5% from August. August had 23 Government business days, September had 19.
Wow, new residence sales are -30% from a year ago. That should tell everybody how soft the market really is. Those that can lower their price are moving it 30% off to make the sale.
Wow, new residence sales are -30% from a year ago. That should tell everybody how soft the market really is. Those that can lower their price are moving it 30% off to make the sale.
ns2524_IHB
New member
100,000+
51 APPLEGLEN DR, Irvine, CA 92602
List Price: $724,900
Last Sale: 01/31/06
Sales Price: $810,000
Bedrooms: 4
Full Baths: 3
Partial Baths: 0
Square Feet: N/A
Lot Size: N/A
Year Built: N/A
Listing Date: 10/15/07
Type: SFR
Status: ACTIVE
MLS #: K07150755
51 APPLEGLEN DR, Irvine, CA 92602
List Price: $724,900
Last Sale: 01/31/06
Sales Price: $810,000
Bedrooms: 4
Full Baths: 3
Partial Baths: 0
Square Feet: N/A
Lot Size: N/A
Year Built: N/A
Listing Date: 10/15/07
Type: SFR
Status: ACTIVE
MLS #: K07150755
BLUE FIRE_IHB
New member
ns2524- Is this a bank-owned sale (MLS #: K07150755 )? Redfin lists the last sale as being on 10/1/2007 @ $642,675
skeptic_IHB
New member
27 Vermillion
Irvine, CA 92603
Price: $540,900
Beds:
3
Baths:
3
Sq. Ft.:
1,600
$/Sq. Ft.:
$338
Lot Size:
-
Type:
High or Mid-Rise Condominium
Style:
Mediterranean
Year Built:
2004
Stories:
Three or More Levels
View(s):
Peek-A-Boo
Area:
Quail Hill
County:
Orange
MLS#:
S509836
Status:
Active
On Redfin:
1 day
http://www.redfin.com/stingray/do/printable-listing?listing-id=1224571
"Elegant town home in Quaill Hill Neighborhood, two private balconys, direct access garage, spacious floor plan. Bank Owned Property, seller will clean the carpets and it's ready to move in! Priced to move, bring the bank an offer today!"
Sales History
Date
Price
Appreciation
09/25/2007
$546,079
-6.2%/yr
02/18/2005
$644,000
--
Irvine, CA 92603
Price: $540,900
Beds:
3
Baths:
3
Sq. Ft.:
1,600
$/Sq. Ft.:
$338
Lot Size:
-
Type:
High or Mid-Rise Condominium
Style:
Mediterranean
Year Built:
2004
Stories:
Three or More Levels
View(s):
Peek-A-Boo
Area:
Quail Hill
County:
Orange
MLS#:
S509836
Status:
Active
On Redfin:
1 day
http://www.redfin.com/stingray/do/printable-listing?listing-id=1224571
"Elegant town home in Quaill Hill Neighborhood, two private balconys, direct access garage, spacious floor plan. Bank Owned Property, seller will clean the carpets and it's ready to move in! Priced to move, bring the bank an offer today!"
Sales History
Date
Price
Appreciation
09/25/2007
$546,079
-6.2%/yr
02/18/2005
$644,000
--
skeptic_IHB
New member
Another $100,000 plus.
ns2524_IHB
New member
100,000+
14712 SWEETAN STREET, Irvine, CA 92604
List Price: $625,000
Last Sale: 11/21/05
Sales Price: $729,500
Bedrooms: 4
Full Baths: 2
Partial Baths: 0
Square Feet: 1,480
Lot Size: 5,543 Sq. Ft.
Year Built: 1971
Listing Date: 10/18/07
On Market: 1 day
Type: SFR
Status: ACTIVE
MLS #: S509892
14712 SWEETAN STREET, Irvine, CA 92604
List Price: $625,000
Last Sale: 11/21/05
Sales Price: $729,500
Bedrooms: 4
Full Baths: 2
Partial Baths: 0
Square Feet: 1,480
Lot Size: 5,543 Sq. Ft.
Year Built: 1971
Listing Date: 10/18/07
On Market: 1 day
Type: SFR
Status: ACTIVE
MLS #: S509892
graphrix_IHB
New member
Some scary stats:
In Q3 there were 4.25 resales per foreclosure. The only Q3 since DQ has been around worse that that is 96 when it was 3.6.
My estimate for the Q3 foreclosures was very close and my estimate for Q4 is just under 2000. If I am correct this will be one of the top three worst quarters on record.
The total foreclosures for the year are increasing at a rate twice as fast as the 90s. To put it in perspective the 2007 foreclosures will have increased from 2006 what 1991 and 1992 added together increased from 1990. Even if I adjust for population or housing stock these numbers will still be worse. Factor in that the jobs are not being lost like they were in the 90s then these numbers look gawd awful.
This is just plain ugly.
In Q3 there were 4.25 resales per foreclosure. The only Q3 since DQ has been around worse that that is 96 when it was 3.6.
My estimate for the Q3 foreclosures was very close and my estimate for Q4 is just under 2000. If I am correct this will be one of the top three worst quarters on record.
The total foreclosures for the year are increasing at a rate twice as fast as the 90s. To put it in perspective the 2007 foreclosures will have increased from 2006 what 1991 and 1992 added together increased from 1990. Even if I adjust for population or housing stock these numbers will still be worse. Factor in that the jobs are not being lost like they were in the 90s then these numbers look gawd awful.
This is just plain ugly.
brealiving_IHB
New member
Anyone going to today's auction? Wanted to see how a property ends up doing. This for the auction in Santa Ana.
graphrix_IHB
New member
Which property is it? I doubt I will go today but I can get you an update on it by the end of the day.
Judiann_IHB
New member
Does anyone know when 347 Tall Oak is (92603) suppose to be auctioned off? He is a neighbor of ours. Another neighbor would like to go to it. Thanks for any info.
graphrix_IHB
New member
347 Tall Oak is scheduled for Friday 10/26 and the minimum bid is $600,467.91.
slamdunk73_IHB
New member
I want to checkout some of these homes before they go to court. How do I go and tour them ? Do I contact the agent, the bank, the owner ? Looking for a property to invest in.
